Ovintiv Inc. — Director's Dealing 2023

Mar 11, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ovintiv Inc. (OVV)
CIK: 0001792580
Period of Report: 2023-03-08

Reporting Person: Code Corey Douglas (EVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-08	Common Stock	M	33037	—	Acquired	86174	Direct
2023-03-08	Common Stock	F	15860	$44.05	Disposed	70314	Direct
2023-03-08	Common Stock	M	82303	—	Acquired	152617	Direct
2023-03-08	Common Stock	F	39506	$44.05	Disposed	113111	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-08	Restricted Share Unit	$	A	8235	Acquired	2024-03-08	Common Stock (8235)	Direct
2023-03-08	Restricted Share Unit	$	A	8235	Acquired	2025-03-08	Common Stock (8235)	Direct
2023-03-08	Restricted Share Unit	$	A	8235	Acquired	2026-03-08	Common Stock (8235)	Direct
2023-03-08	Restricted Share Unit	$	M	33037	Disposed	2023-03-08	Common Stock (33037)	Direct
2023-03-08	Performance Share Unit	$	M	82303	Disposed	2023-03-08	Common Stock (82303)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	939	Indirect

Footnotes

F1: Each Restricted Share Unit ("RSU") is the economic equivalent of one share of common stock of Ovintiv Inc. ("Ovintiv") and yields dividend equivalent RSUs. Vesting will occur on the exercise date in accordance with the Omnibus Incentive Plan and applicable grant agreement, and subject to the grantee's continued employment with Ovintiv through the applicable exercise date.

F2: Each RSU is the economic equivalent of one share of Ovintiv common stock and yields dividend equivalent RSUs.

F3: Represents the settlement upon vesting of RSUs.

F4: RSUs convert into Ovintiv common stock on a one-for-one basis.

F5: Reporting the withholding by Ovintiv of shares of Ovintiv common stock (from the shares of common stock issued upon settlement upon vesting of RSUs or PSUs, as applicable) to satisfy payment of tax withholding obligations.

F6: Each Performance Share Unit ("PSU") is settled based on the achievement of certain performance criteria, is the economic equivalent of one share of common stock of Ovintiv and yields dividend equivalent PSUs.

F7: Settlement of the PSUs was based on a performance criteria multiplier of 170 percent.

F8: Represents the settlement upon vesting of PSUs.

F9: PSUs convert into Ovintiv common stock on a one-for-one basis.

F10: The RSUs and PSUs settled in Canadian dollars at a price of CAD$60.72 per RSU or PSU. The price has been converted to U.S. dollars using the Bank of Canada exchange rate on the transaction date.

F11: Includes Ovintiv common stock acquired through reinvested dividends and employee matching not previously reported.